Witness on day of 2008 arrest: ‘Madoff Implodes’

New York financier Bernard Madoff’s former right-hand man summed up his boss’ arrest exactly five years ago with two words: “Madoff Implodes.”

The words were in Frank DiPascali’s diary entry for Dec. 11, 2008. The diary was shown to jurors Wednesday on the five-year anniversary of Madoff’s fall. The jurors are hearing evidence in the trial of five of Madoff’s former employees.

DiPascali says Madoff called him that morning to say the FBI was in the Manhattan office of Madoff’s brother. DiPascali says he asked Madoff “why are you calling me?” and threw the phone across the room.

DiPascali later pleaded guilty and cooperated with the government. He said he faces 125 years in prison if he does not tell the truth.

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